Odaily Planet Daily reported that Chainalysis pointed out in a blog post that this year there have been many seemingly positive developments in the cryptocurrency ecosystem. It noted that with the U.S. approving spot Bitcoin and Ethereum ETFs, as well as the Financial Accounting Standards Board (FASB) revising fair accounting rules, cryptocurrency continues to gain mainstream recognition in many ways. Chainalysis also mentioned that the funds flowing into 'legitimate' services this year have reached the 'highest level' since 2021 (the last bull market peak). It stated that funds from illegal activities so far this year have decreased by '19.6%, from $20.9 billion to $16.7 billion, indicating that the growth rate of legitimate activities is outpacing on-chain illegal activities.' These signs suggest that cryptocurrency will continue to be 'adopted globally,' which is also reflected in Japan's cryptocurrency ecosystem. Overall, the exposure of Japanese services to global illegal entities is 'generally low, such as sanctioned entities, dark web markets (DNMs), and ransomware services, because most Japanese services are primarily aimed at Japanese users.' However, the report clarifies that this does not mean that Japan is 'completely immune to crypto-related crime,' as public reports, including those from Japan's Financial Intelligence Unit (FIU) JAFIC, emphasize that cryptocurrency poses a 'significant money laundering risk.' Chainalysis further pointed out that while Japan's exposure to international illegal entities may be limited, the country 'is not without its local challenges. Off-chain criminal entities utilizing cryptocurrency are common but often go unnoticed.' (Crowdfund Insider)

#ETF